BTC margin and option markets show no signs of discomfort or overconfidence despite 28% gains in two days.
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Bitcoin derivatives suggest $26K resistance level won't hold for long
The price of Bitcoin (BTC) increased by 28% between March 12-14, reaching $26,500, its highest level since June 2022. Some may attribute the gains to the consumer price index's (CPI) 6% year-over-year increase in February, even though the figure was in line with expectations.
The inflation metric reached its lowest level since September 2021, which is a positive development, but it does not validate the Federal Reserve's attempt to reduce the metric to 2%. Most likely, risk markets, such as stocks and cryptocurrencies, soared after regional bank stocks recovered from their March 13 lows.
At 10:30 a.m. Eastern Time, First Republic Bank (FRC) shares were trading 54% higher, followed by Western Alliance Bancorporation (WAL) gaining 46% and KeyCorp (KEY) gaining 15%. The 30-year average mortgage rate decreased to 6.6% from 7.1% on March 7. Consequently, reduced mortgage rates have the potential to improve the housing market, which partially explains the rally.
The unexpected decline in mortgage rates may present an opportunity for price-sensitive homebuyers and homeowners waiting for a chance to lock in a lower rate. According to data from Realtor.com, a buyer of a median-priced home still faced a monthly mortgage payment that was 49% higher than it was one year prior.
Despite the possibility of a recession in the United States due to high interest rates, China's economic outlook remains positive. Li Qiang addressed reporters on March 14 for the first time since assuming the position that oversees the State Council, China's highest executive body. According to Qiang, non-state-owned enterprises in China will have greater room for development.
Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.
Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.
Tassat blockchain to join FedNow service with B2B onramp as pilot prepares for launch
The New York-based fintech said it will provide an API to allow clients to access the new Federal Reserve real-time payment service when it premiers.
How to create and sell Bitcoin NFTs
Bitcoin NFTs have taken the crypto world by storm in a blink of an eye. Here’s all you need to know about Bitcoin Ordinals and how to create and sell them.
Former Age of Empires producer talks blockchain game adoption and GameFi
Web3 gaming is the future, and mainstream veteran Peter Bergstrom reveals how the ecosystem can expedite the inevitable.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
NFT wash trading creates a phoney appearance of popularity to push up prices and rip collectors off. But you can learn how to spot the signs.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
Wash trading on nonfungible token (NFT) marketplaces is back in the spotlight after critics claimed the fast-growing NFT marketplace Blur has incentivized the practice with its trading rewards scheme.
10% of Blur’s total token supply was distributed to users based on their trading activity in its second token reward scheme from Feb. 14. The platform has seen a surge in trading volume in comparison to other leading NFT marketplaces.
Skeptics claim that wash trading played a significant role, with CryptoSlam reporting around $577 million worth of NFTs have been wash traded back and forth in recent months and that 80% of trades on the platform are “inorganic.” However, opinions vary.
A new Dune Analytics deep-dive by Hildobby argues that the vast majority of the platform’s trading volume is actually above board due to the way it has structured the rewards. But the analysis is far from a clean bill of health for the sector, with the same methodology suggesting that LooksRare and X2Y2, have 98% and 85%, respectively, of volume currently flagged as suspicious.
NFT marketplaces have accounted for a reported $73.8 billion worth of trading volume to date. However, Dune Analytics data suggests that more than 42% of the volume is fake, with $31.2 billion attributed to wash trading.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
NFT wash trading creates a phoney appearance of popularity to push up prices and rip collectors off. But you can learn how to spot the signs.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
NFT wash trading creates a phoney appearance of popularity to push up prices and rip collectors off. But you can learn how to spot the signs.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
NFT wash trading creates a phoney appearance of popularity to push up prices and rip collectors off. But you can learn how to spot the signs.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
Wash trading on nonfungible token (NFT) marketplaces is back in the spotlight after critics claimed the fast-growing NFT marketplace Blur has incentivized the practice with its trading rewards scheme.
10% of Blur’s total token supply was distributed to users based on their trading activity in its second token reward scheme from Feb. 14. The platform has seen a surge in trading volume in comparison to other leading NFT marketplaces.
Skeptics claim that wash trading played a significant role, with CryptoSlam reporting around $577 million worth of NFTs have been wash traded back and forth in recent months and that 80% of trades on the platform are “inorganic.” However, opinions vary.
A new Dune Analytics deep-dive by Hildobby argues that the vast majority of the platform’s trading volume is actually above board due to the way it has structured the rewards. But the analysis is far from a clean bill of health for the sector, with the same methodology suggesting that LooksRare and X2Y2, have 98% and 85%, respectively, of volume currently flagged as suspicious.
NFT marketplaces have accounted for a reported $73.8 billion worth of trading volume to date. However, Dune Analytics data suggests that more than 42% of the volume is fake, with $31.2 billion attributed to wash trading.
4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
Wash trading on nonfungible token (NFT) marketplaces is back in the spotlight after critics claimed the fast-growing NFT marketplace Blur has incentivized the practice with its trading rewards scheme.
10% of Blur’s total token supply was distributed to users based on their trading activity in its second token reward scheme from Feb. 14. The platform has seen a surge in trading volume in comparison to other leading NFT marketplaces.
Skeptics claim that wash trading played a significant role, with CryptoSlam reporting around $577 million worth of NFTs have been wash traded back and forth in recent months and that 80% of trades on the platform are “inorganic.” However, opinions vary.
A new Dune Analytics deep-dive by Hildobby argues that the vast majority of the platform’s trading volume is actually above board due to the way it has structured the rewards. But the analysis is far from a clean bill of health for the sector, with the same methodology suggesting that LooksRare and X2Y2, have 98% and 85%, respectively, of volume currently flagged as suspicious.
NFT marketplaces have accounted for a reported $73.8 billion worth of trading volume to date. However, Dune Analytics data suggests that more than 42% of the volume is fake, with $31.2 billion attributed to wash trading.
Bitcoin price breaks $26K as US inflation comes in at 6%
Bitcoin clears $26,000 as U.S. consumer price index rises by 0.4% in Feb. 2023.
Bitcoin price sees new 2023 high as CPI sends BTC price above $26K
Bitcoin sees a major new lift-off thanks to CPI numbers conforming to expectations — reducing the chances of the Fed tightening financial conditions.
Bitcoin price sees new 2023 high as CPI sends BTC price above $26K
Bitcoin (BTC) spiked above $26,000 on March 14 as United States Consumer Price Index (CPI) data showed mixed inflation signals.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCPI fuels 9-month BTC price highs
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as sudden volatility kicked in on the release of February’s CPI numbers.
Inflation climbed 6% year-on-year, while the month-on-month figure was 0.4% — both in line with expectations. Items excluding food and energy increased by 0.5%, slightly higher than forecast.
Bitcoin appeared to react positively to the data, which allowed the Federal Reserve to avoid being trapped between stickier inflation and avoiding interest rate hikes amid an ongoing banking crisis.
Reacting, Venturefounder, a contributing analyst at on-chain analytics platform CryptoQuant, suggested that the market was now anticipating a “pivot” on hikes — a key boon for risk assets more broadly.
Wyoming’s private keys bill addresses growing threat to rights and assets
Wyoming’s new law ensures that courts won’t overstep their authority in requiring individuals to disclose their private keys.
SVB crisis: Here are the crypto firms denied exposure to troubled US banks
Some of the biggest firms in crypto have denied exposure to any of the failed banks in the United States.
FTX-related stablecoins on the move: $145M transferred to crypto exchanges
Three wallets, reportedly associated with both FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC.